In an interesting bit of acquisition news, announced this week its acquisition of New Jersey-based . If that name doesn't ring a bell right away, you might know them better as the company behind TwinGalaxies, Shacknews, GameDaily.Biz, and PrimaGames.com. The company has also created viral branded gaming content, events, and other activities with companies like Xbox, HyperX, Chips Ahoy!, Warner Bros., and Redbox. What this means for those websites and the people currently employed by those places is uncertain at this time. But if previous acquisitions in gaming have taught us anything, its that you don't acquire that much and not lay people off. Here are some quotes from the announcement this week.
"This month celebrates ReKTGlobal's two-year launch anniversary, and the growth we've seen this year alone has been remarkable," said Dave Bialek, CEO of ReKTGlobal. "After being in talks with Greenlit Content since early 2018, we are thrilled that the acquisition is now complete and look forward to diversifying our assets in order to expand our overall reach and dominate the industry together."
John Benyamine, CEO and Co-Founder of Greenlit Content remarked, "Although we had a number of other offers from gaming and esports organizations, ReKTGlobal made the most sense for expanding our business and connecting with a global audience. Not only does the vision outlined by Dave and Amish embody our own, we are excited about the opportunity to integrate with the extremely impressive talent and esports roster that ReKTGlobal brings to the table."
Amish Shah, co-founder of ReKTGlobal added, "We are always looking to add companies to our portfolio that align with our long-term vision. The merger between ReKTGlobal and Greenlit Content was a strategic decision that will give ReKTGlobal the ability to penetrate the market due to our newly combined portfolio and ability to reach over 100 million enthusiastic gamers and esports fans."
"While esports is a big part of Greenlit Content's portfolio, we also work with endemic and non-endemic brands across gaming and mixed reality," commented JohnGaudiosi, President and Co-Founder of Greenlit Content. "With the backing of ReKTGlobal, we can continue to grow the esports audience, while offering clients content marketing opportunities with built-in ROI across our network of sites, social, international game developer conferences and consumer-focused events across the U.S."